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> it won’t succeed as a currency Whilst I can appreciate why people think it might not succeed as a mainstream consumer currency — do you recognise how success
by jw1224 5y ago
> it won’t succeed as a currency
Whilst I can appreciate why people think it might not succeed as a mainstream consumer currency — do you recognise how successful it is becoming as an asset, like gold?
Worth a read: https://www.lynalden.com/gold-and-bitcoin/ https://www.lynalden.com/gold-and-bitcoin/
- unicornmama 5y agoGold has been valued for millennia. Regardless of what anyone thinks the price of gold should be, most will agree it’s not zero. Gold has uses for jewelry that cannot be substituted with any another metal. Bitcoin has no use other than to sell or loan to someone else; or to pay taxes levied by criminals.
- throw0101a 5y ago> do you recognise how successful it is becoming as an asset, like gold? And why would anyone want to own gold? It's certainly not to protect against inflation, which seems to be what everyone talks about: > While gold objects have existed for thousands of years, gold's role in diversified portfolios is not well understood. We critically examine popular stories such as 'gold is an inflation hedge'. We show that gold may be an effective hedge if the investment horizon is measured in centuries. Over practical investment horizons, gold is an unreliable inflation hedge. […] * https://www.nber.org/papers/w18706 https://www.nber.org/papers/w18706